PanTerra Gold (ASX: PGI), formally known as EnviroGold, is a near term gold producer at its Las Lagunas project in the Dominican Republic with construction scheduled for completion in December 2011. The project has an expected life of seven years at an annual production rate of 65,000 ounces of gold and 600,000 ounces of silver.
PanTerra Gold is also active in Ecuador with the advanced Azuay Gold Mining project and the San Gerardo Gold Mining prospect. At the Azuay project, construction is targeted to commence in mid 2012.
EnviroGold assay results indicate high grade gold at Azuay project in Ecuador
EnviroGold (ASX: EVG) has received additional results from mapping and sampling of the extensive tunnel systems within EnviroGold’s 65% owned Azuay gold project in Ecuador.
The latest assay results tabulated by EnviroGold‘s geological consultants, Buscoré, are from tunnels at the Papercorp mine and are from sample work carried out through January 2010 in the Bella Vista, Condor de Oro, and Reina del Cisne tunnels.
The mine continues to display extremely high grade gold intercepts (high of 158g/t) with vein widths up to 1.5m.
Progressive results from the Azuay project continue to reinforce Buscoré's view “that the mining target for the two concessions is between 3.0 million and 4.0 million tonnes grading in excess of 10g/t Au, which indicates a potential target resource in excess of 1 million oz Au.”
The company said it is the intention of EnviroGold to determine the extension of the known veins and to identify others through diamond drilling once the environmental permitting is complete.
Mapping and sampling of exposed veins in tunnels at the Papercorp mine will be completed within a week, with the last assay results returned in early March 2010.
Buscoré geologists commenced mapping in the adjacent Pinglio mine on 5 February 2010 and are expected to take approximately six weeks to complete the task.
The Reina del Cisne tunnel system accesses at least four veins of which veins 2 and 3 have returned additional sample results over previously reported results.
Vein 2 is a quartz/calcite/pyrite/arsenopyrite vein with some gouge material.
The vein is typically 1.2m to 2m in width with a NE-SW trend ranging from 40 to 60 degrees azimuth and varying in dip from 15 degrees to the South-East to 62 degrees to the North-West. The vein has been mapped and sampled for 43m to date.
Vein 3 is a quartz/calcite/limonite clay-gouge vein, ranging between 0.43 to 0.8m in width. The vein trends NE to SW, dipping 18 to 23 degrees to the South-East and has been displaced by a normal fault with NW-SE direction.
Mine development on this particular vein extends for 88m, all of which has been sampled.
The Bella Vista tunnel accesses a single vein that is being developed over three levels. The vein has an East-West trend and consists of quartz/calcite/pyrite/arsenopyrite with traces of smectite gouge. The vein has an azimuth ranging from 81 to 105 degrees, is typically 0.36 to 1.3m wide, dipping 15 to 30 degrees to the South.
The Condor de Oro tunnel system accesses three separate veins, sampled and identified as veins 1 to 3.
Vein 1 is typically trending North-East and consists of quartz/calcite/pyrite and arsenopyrite. The vein varies between 0.45 to 1.1 m in width and is dipping 48 to 55 degrees to the South-East. The vein has been mapped and sampled for 47m.
Vein 2 is a North-South trending vein consisting of quartz/calcite/antimonite/pyrite/ arsenopyrite and traces of gouge. The vein varies in width between 0.5 to 1.4m wide; azimuth of 160-186 degrees, dipping 50-60 degrees to the West. The vein was sampled for 60m.
Vein 3 is a narrow vein, 0.16 to 0.3m in width, consisting of quartz/limonite, calcite and pyrite. This particular vein has been mapped for 57m over two levels.
